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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Dragonfly who wrote (1558)4/9/1999 7:58:00 AM
From: CMon  Read Replies (1) of 2693
 
Pop quiz dragonfly: at your predicted price of $70, and based upon current shares outstanding, what will the market cap of the fully diluted equity of Iridum be?

And, how badly do you anticipate being diluted through further sales of equity prior to your target date? This company must return to the financing well this year, and given the current levels at which their debt is trading, you'd better believe they won't raise that money through further debt issuance.

As for your point that IRID makes money on every customer, I might point out that in the models, perhaps they do. In reality, they don't have those customers yet. Tough to make money on customers you don't, and in my opinion won't, have.

What they do have is a crushing debt load and a cap-ex treadmill that will assure that any money ever made by this enterprise will not make it to shareholders.
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